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PSI-Pay, Kerv partner to launch contactless payment ring

UK-based PSI-Pay and Kerv Wearables have teamed up to introduce a contactless payment ring.

PSI-Pay offers digital account and payment card facilities to the international market while Kerv is one of the leading innovators in the alternative payments industry.

The partnership will leverage PSI-Pay’s MasterCard licence, which will allow users of the Kerv contactless payment ring to pay in 38 million locations across the globe.

Kerv users will be able to fund their account through debit or credit card, bank transfer or PayPal, either via a manual load, or the auto top-up service.

Besides contactless payments, Kerv users may make online or in-app purchases using their virtual card.

Touted to be the world’s first, the payment ring users can make contactless NFC payments up to £30, switch rings on and off, manage funds and receive transaction alerts via app, SMS or website. It does not need charging and does not need to be paired with a smartphone to operate.

Further, it can be tapped-in on tubes, trains and buses in the Transport for London network and other transport networks around the world.

PSI-Pay managing director Phil Davies said; "We are extremely pleased to have been chosen to work with Kerv. As alternative payments go Kerv has to be one of the most innovative, exciting and useful solutions available.

"There is no doubt that the market is now embracing these revolutionary payment applications and we are proud to be partnering with Kerv and being able to share in its inevitable success."